[ISC] Q. 25 solution of Dissolution of Partnership Firm Chapter TS Grewal Book Class 12 (2022-23)

Are you looking for the solution to Question number 25 of the Dissolution of Partnership Firm Chapter of TS Grewal Book 2022-23 Edition for the ISC Board?

Arnab, Ragini and Dhrupad are partners sharing profits in the ratio of 3 : 1 : 1. On 31st March, 2022, they decided to dissolvef their firm. On that date their Balance Sheet was as under:

Balance Sheet of Arnab, Ragini and Dhrupad

as at 31st March, 2022

Liabilities	₹	Assets		₹
Creditors Loan by Pronoy (Arnab’s Brother) Loan by Dhrupad workmen Compensation Reservef Investment Fluctuation Reserve Capital A/cs: Arnab Ragini Dhrupad	60,000 95,000 1,00,000 50,000 50,000 2,75,000 2,00,000 1,70,000	Bank Debtors Less: PDD Stock Investments Building Profit and Loss A/c Advertisement Suspense A/c	1,70,000 20,000	50,000 1,50,000 1,50,000 2,50,000 3,00,000 50,000 50,000
	10,00,000			10,00,000

The assets were realised and the liabilities were paid as under:

(i) Arnab agreed to pay his brother Pronoy’s loan

(ii) Investments realised 20% less.

(iii) Creditors were paid at 10% less.

(iv) Building was sold for ₹ 3,55,000. Commission paid was ₹ 5,000.

(v) 50% of the stock was taken by Ragini at market price which was 20% less than the book value and the remaining was sold at market price.

(vi) Dissolution expenses were ₹ 8,000, ₹ 3,000 were to be bornef by the firm and the balance by Dhrupad. The expenses were paid by him.

Prepare Realisation Account, Bank Account and Partner’s Capital Accounts.

Solution:-

Here is the list of solutions

S.N	Solutions
1	Question – 1
2	Question – 2
3	Question – 3
4	Question – 4
5	Question – 5
6	Question – 6
7	Question – 7
8	Question – 8
9	Question – 9
10	Question – 10

S.N	Solutions
11	Question – 11
12	Question – 12
13	Question – 13
14	Question – 14
15	Question – 15
16	Question – 16
17	Question – 17
18	Question – 18
19	Question – 19
20	Question – 20

S.N	Solutions
21	Question – 21
22	Question – 22
23	Question – 23
24	Question – 24
25	Question – 25
26	Question – 26
27	Question – 27
28	Question – 28
29	Question – 29
30	Question – 30
31	Question – 31